The Covered Call Calculator is a simple yet powerful Thinkorswim custom quote script designed to help traders quickly assess the profitability of covered call opportunities directly on the options chain. With real-time return metrics, it removes the guesswork from evaluating premium yield and combined stock-plus-option gains.
Key Features:
✅ Premium % Return: Instantly shows the yield from option premium relative to the underlying stock position.
✅ Premium + Strike Gain: Calculates total potential return if shares are called away at strike price.
✅ Quick Visual Labels: Displays percentage returns as clear, easy-to-read labels directly in the options chain.
✅ Profitability Highlighting: Trades meeting or exceeding your set threshold (default 50%) are automatically highlighted in green for fast recognition.
✅ Plug-and-Play Design: Lightweight, fast, and easy to paste into Thinkorswim’s Custom Quote script settings.
Perfect For:
Options traders running covered call strategies who want a fast, no-frills way to compare strike prices and maximize income with efficiency.
⚠️ Disclaimer: This indicator is for educational use only. It does not constitute investment advice. Trading involves substantial risk; never trade with money you cannot afford to lose. Past performance is not indicative of future results.
The Covered Call Calculator is a simple yet powerful Thinkorswim custom quote script designed to help traders quickly assess the profitability of covered call opportunities directly on the options chain. With real-time return metrics, it removes the guesswork from evaluating premium yield and combined stock-plus-option gains.
Key Features:
✅ Premium % Return: Instantly shows the yield from option premium relative to the underlying stock position.
✅ Premium + Strike Gain: Calculates total potential return if shares are called away at strike price.
✅ Quick Visual Labels: Displays percentage returns as clear, easy-to-read labels directly in the options chain.
✅ Profitability Highlighting: Trades meeting or exceeding your set threshold (default 50%) are automatically highlighted in green for fast recognition.
✅ Plug-and-Play Design: Lightweight, fast, and easy to paste into Thinkorswim’s Custom Quote script settings.
Perfect For:
Options traders running covered call strategies who want a fast, no-frills way to compare strike prices and maximize income with efficiency.
⚠️ Disclaimer: This indicator is for educational use only. It does not constitute investment advice. Trading involves substantial risk; never trade with money you cannot afford to lose. Past performance is not indicative of future results.
